First Citizens Bank & Trust Co. Acquires 51,385 Shares of American Airlines Group Inc. $AAL

First Citizens Bank & Trust Co. raised its stake in shares of American Airlines Group Inc. (NASDAQ:AAL) by 139.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,309 shares of the airline’s stock after acquiring an additional 51,385 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in American Airlines Group were worth $993,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Marshall Wace LLP boosted its position in American Airlines Group by 319.4% during the second quarter. Marshall Wace LLP now owns 5,019,492 shares of the airline’s stock valued at $56,319,000 after purchasing an additional 3,822,757 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of American Airlines Group during the third quarter valued at about $37,533,000. Norges Bank purchased a new stake in shares of American Airlines Group during the second quarter valued at about $15,133,000. Jump Financial LLC boosted its holdings in shares of American Airlines Group by 203.3% in the 2nd quarter. Jump Financial LLC now owns 1,914,890 shares of the airline’s stock valued at $21,485,000 after buying an additional 1,283,590 shares in the last quarter. Finally, Par Capital Management Inc. purchased a new position in shares of American Airlines Group in the 2nd quarter worth approximately $14,025,000. 52.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Evercore ISI increased their target price on shares of American Airlines Group from $13.00 to $14.00 and gave the company an “in-line” rating in a research report on Monday, September 29th. Bank of America increased their price objective on American Airlines Group from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, January 6th. Wells Fargo & Company initiated coverage on American Airlines Group in a research note on Thursday, December 18th. They set an “equal weight” rating and a $17.00 target price on the stock. Jefferies Financial Group upped their target price on American Airlines Group from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Wednesday, October 1st. Finally, Susquehanna upgraded American Airlines Group from a “neutral” rating to a “positive” rating and increased their price target for the company from $14.00 to $20.00 in a research note on Friday, January 9th. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $17.61.

American Airlines Group Stock Down 0.7%

Shares of NASDAQ:AAL opened at $14.57 on Tuesday. American Airlines Group Inc. has a 52-week low of $8.50 and a 52-week high of $17.54. The stock has a market cap of $9.62 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 0.52 and a beta of 1.23. The business has a 50-day moving average price of $14.89 and a 200-day moving average price of $13.30.

American Airlines Group Profile

American Airlines Group Inc is a leading global airline holding company headquartered in Fort Worth, Texas. Formed in December 2013 through the merger of AMR Corporation (parent of American Airlines) and US Airways Group, the company operates one of the world’s largest passenger and cargo networks. Its subsidiaries include American Airlines, which provides mainline service, and American Eagle, a network of regional carriers operating short- and medium-haul routes on behalf of the mainline carrier.

The company offers scheduled air transportation for passengers and cargo to more than 350 destinations in over 50 countries.